I have a large long position in UUP (although my long position in LDK is the only reason I'm in the green today!), and I was intrigued by this chart I got from friend-of-Slope Serge this morning:
Looking more closely at the left side of the chart:
…..and then the right, which is the present time……
It certainly calls for a drop in the EUR, which would smash the equity rally to pieces.